Some of Nigeria’s most promising young innovators have received invitations to compete at the grand finale of the Hackaholics 6.0 initiative, a major youth innovation and technology competition powered by Wema Bank Plc.
According to a statement from the bank, this year’s edition of Hackaholics 6.0 made stops at four top institutions across the country — the Federal University of Technology, Akure (FUTA); Ahmadu Bello University, Zaria (ABU); the University of Ibadan (UI); and Purple Academy, Lagos. At each stop, thousands of students, young tech enthusiasts, and early-stage entrepreneurs showcased their creativity, innovation, and problem-solving skills.
Since its launch in 2019, Hackaholics has grown into one of Nigeria’s leading youth empowerment and innovation platforms. The initiative is designed to help young Nigerians build solutions that address real challenges in their communities while also creating new opportunities for financial and technological growth.
The bank revealed that over the years, more than 12,000 applicants from 15 schools have participated in the competition, with a total of over $300,000 disbursed in funding to support innovative projects. Between 2023 and 2024, ₦75 million of that amount was awarded specifically to women-led teams, showing Wema Bank’s commitment to promoting gender inclusion and supporting female innovators in the tech ecosystem.
At each of the four university stops this year, over 3,000 entries were received. Hundreds of participants attended industry-led masterclasses facilitated by experts from technology, finance, and entrepreneurship fields. These sessions exposed students to key topics such as product design, business pitching, and digital transformation, helping them develop real-world solutions to problems within their local communities.
For four days at each location, participants went through an intense experience that included idea generation, mentorship, and pitch readiness training, ending with a high-energy final pitching event where the best ideas were selected by a panel of judges.
From these sessions, three Ideathon-winning teams were chosen at each stop — including one women-led team — alongside two Hackathon teams. All the winning groups have now been invited to participate in the Hackaholics 6.0 Grand Finale, where they will compete for major prizes and business support from Wema Bank’s innovation network.
The winning teams at the finale will have the opportunity to scale their ideas, gain access to funding, and benefit from mentorship and incubation support within Wema Bank’s ecosystem.
Speaking about the initiative, the Managing Director and Chief Executive Officer of Wema Bank Plc, Mr. Moruf Oseni, described Hackaholics as more than just a technology contest. He said the project is a key part of the bank’s mission to empower young Nigerians to think differently and become drivers of change.
“Hackaholics has always been about more than technology,” Oseni said. “It is about empowering young people to think differently, create boldly, and develop solutions that can move our industry and nation forward. The level of talent and creativity we have seen so far reinforces why we continue to invest in this programme.”
He added that the innovation and creativity displayed by the participants have the potential to shape the future of not only the financial services industry but also Nigeria’s broader digital economy.
“The innovative ideas and solutions coming out of the participants have the power to redefine financial services and beyond, and we are excited to see them come to life,” he said.
Wema Bank noted that Hackaholics has remained consistent with its goal of building a vibrant innovation ecosystem where students, creators, and early-stage entrepreneurs can collaborate, learn, and grow. It said the programme has helped many participants gain visibility, partnerships, and funding that have allowed them to transform their ideas into real businesses.
Beyond competition, Hackaholics also serves as a mentorship and networking platform, connecting young innovators to experts, investors, and corporate partners who can help them refine and expand their ideas.
The bank confirmed that the Hackaholics 6.0 train will continue to visit more cities and universities across Nigeria before the grand finale event, where the best teams will battle for the top prizes. The finale is expected to attract major players from the tech, finance, and startup industries, as well as policymakers and investors interested in supporting youth-led innovation.
Through Hackaholics, Wema Bank continues to position itself as one of the leading institutions championing youth empowerment, innovation, and digital transformation in Nigeria’s financial sector.
